3 ms·
The Collapse of Terminal Value – What Happens If AI Makes Every Moat Temporary?
- AndrewKemendo 7mo agoEvery moat is temporary That was always true The distinction now is how long do you have until your moat is commoditized The answer there is the same as always which is: whoever maintains economies of scale across diverse properties can acquire and relocate resources within that basket of properties to maintain organizational stability over the longest term so the concept of a most is simply: how big you can get very quickly, and maintain energy capture is your moat This is the same as any power law distribution which is just a natural distribution of energy storage and management that you find across every possible category of living system It’s also the reason why the only “successful“ investing strategies are ones that are nearly perfectly diversified against stochastic risk